Kerr's Australasian Equity waives 90% acceptance condition

George Kerr’s Australasian Equity Partners No. 1 LP waived the 90 percent minimum acceptance condition of its takeover offer for Pyne Gould Corp and extended the closing date by two weeks.

Kerr now has an interest in 55.9 percent of Pyne Gould, according to a substantial security holder notice on Jan. 27. Today he extended the 37 cents-a-share offer, which was due to close today, until Feb. 15.

“As the 50% minimum acceptances condition has been satisfied, the offer is now unconditional as to acceptances,” Australasian Equity said in its statement.

Pyne Gould, which holds the assets left over after the finance company tipped its Marac Finance unit into Heartland New Zealand, rose 2.9 percent to 36 cents on the NZX today.

(BusinessDesk)

BusinessDesk.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

PGW Guidance Update
CNU - Commerce Commission releases draft expenditure decision
Spark announces departure of Product Director
TGG - T&G appoints new Director
April 18th Morning Report
SKC - APPOINTMENT OF CHIEF EXECUTIVE OFFICER
Devon Funds Morning Note - 17 April 2024
Consultation opens on a digital currency for New Zealand
TWL - TradeWindow's $2.2 million capital raise now unconditional
April 17th Morning Report